Decks and large windows and doors provide access to the view of San Francisco Bay from a new luxury home at 425 Belvedere Av. on Monday, Dec. 17, 2012, in Belvedere, Calif. The house just came on the market and is scheduled for auction.
(IJ photo/Frankie Frost)

A luxury Belvedere waterfront estate with a rocky history apparently sold Sunday, though the agent handling the sale emphasized that "backup offers" are still being accepted.

Villa Belvedere, a new seven-bedroom home at 425 Belvedere Ave., sold about a half-hour before it was to be auctioned at 11 a.m. Sunday, said Olivia Hsu Decker, the listing agent. She would not give the price or the name of the buyer.

With views of the Golden Gate Bridge and San Francisco, a pool and spa, the 15,500-square-foot home has a tumultuous history including many legal battles. It was initially offered for $45 million, but was scheduled to be sold at private auction Sunday with a minimum bid of $25 million.

However, immediately before the auction, the owner accepted an offer from a buyer, Decker said.

"It was an offer the seller couldn't refuse. It was a fantastic offer," Decker said, immediately adding, "We are now accepting backup offers. You never know if it is going to close.

"It is in contract. There are still contingencies. You never know if the buyer is going to close or not," Decker said.